Hot Features
Premium
Register for streaming realtime charts, analysis tools, and prices.
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
World Bank cuts global growth forecast for 2016
The World Bank slashed its 2016 global growth forecast to 2.4% from its earlier estimate of 2.9%, attributing it to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade and diminishing capital flows. Among major emerging market economies, the World Bank kept China’s growth forecast unchanged at 6.7% this year, while Japan is expected to expand by 0.5%, a bit slower than last year. In the UK, the growth rate will be restricted to 2.0% this year and 2.1% in 2017 and in 2018. Additionally, the World Bank expects the US economy to grow 1.9% this year, down from its 2015 growth of 2.4%, led by a steep decline in energy sector investment and weak exports. Meanwhile, the Euro-zone is expected to grow at a modest 1.6% in 2016 and in 2017 before slipping to 1.5% in 2018.
UK Halifax house price index rose more than expected in the March-May 2016 period
In the UK, the Halifax house price index advanced 9.20% in the March-May 2016 period on an annual basis, higher than market expectations for a rise of 8.90%. The Halifax house price index had registered a similar rise in the February-April 2016 period.
UK Halifax house price index advanced more than expected in May
In May, the Halifax house price index rose 0.60% on a MoM basis in the UK, higher than market expectations for an advance of 0.30%. The Halifax house price index had dropped 0.80% in the previous month.
Euro-zone GDP rose more than expected in 1Q 2016
On a quarterly basis, the seasonally adjusted final gross domestic product (GDP) registered a rise of 0.60% in 1Q 2016, in the Euro-zone, compared to an advance of 0.30% in the prior quarter. The preliminary figures had indicated a rise of 0.50%. Markets were anticipating GDP to climb 0.50%.
Euro-zone government expenditure rose as expected in 1Q 2016
In 1Q 2016, government expenditure climbed 0.40% in the Eurozone on a quarterly basis, meeting market expectations. In the previous quarter, government expenditure had risen by a revised 0.50%.
Euro-zone GDP advanced more than expected in 1Q 2016
In 1Q 2016, on an annual basis, the seasonally adjusted final GDP in the Euro-zone recorded a rise of 1.70%, more than market expectations for a rise of 1.50%. The preliminary figures had recorded a rise of 1.50%. GDP had risen 1.60% in the prior quarter.
Euro-zone household consumption expenditure rose more than expected in 1Q 2016
In 1Q 2016, household consumption expenditure advanced 0.60% in the Euro-zone on a quarterly basis, compared to a revised advance of 0.30% in the prior quarter. Markets were anticipating household consumption expenditure to advance 0.50%.
Euro-zone gross fixed capital formation rose less than expected in 1Q 2016
The gross fixed capital formation advanced 0.80% in the Euro-zone on a QoQ basis in 1Q 2016, less than market expectations for a rise of 1.10%. The gross fixed capital formation had risen by a revised 1.40% in the previous quarter.
German industrial production rose more than expected in April
The seasonally adjusted industrial production in Germany advanced 0.80% in April on a MoM basis, higher than market expectations for a rise of 0.70%. In the previous month, industrial production had recorded a revised drop of 1.10%.
German industrial production advanced more than expected in April
On a YoY basis in April, the non-seasonally & working day adjusted industrial production recorded a rise of 1.20% in Germany, more than market expectations for a rise of 1.00%. In the previous month, industrial production had recorded a revised rise of 0.40%.
French trade deficit expanded in April
Trade deficit in France widened to €5.22 billion in April, compared to market expectations of a trade deficit of €4.45 billion. France had reported a revised trade deficit of €4.20 billion in the previous month.
French exports registered a rise in April
In France, exports advanced to €37.10 billion in April. In the previous month, exports had registered a revised reading of €36.40 billion.
French current account deficit expanded in April
Current account deficit in France widened to €2.80 billion in April, following a revised current account deficit of €1.90 billion in the prior month.
French budget deficit expanded in April
France has reported budget deficit of €56.50 billion in April, from a budget deficit of €27.50 billion in the prior month.
French imports rose in April
Compared to a revised reading of €40.60 billion in the previous month imports advanced to €42.30 billion in April, in France.
Spanish calendar adjusted industrial output advanced more than expected in April
The calendar adjusted industrial output climbed 2.70% in Spain on an annual basis in April, more than market expectations for a rise of 2.40%. In the previous month, the calendar adjusted industrial output had registered a revised rise of 2.90%.
Swiss foreign currency reserves advanced in May
In May, foreign currency reserves registered a rise to CHF 602.10 billion in Switzerland. In the previous month, foreign currency reserves had registered a reading of CHF 587.90 billion.
US Redbook index fell in the last week
In the week ended 03 June 2016, on a MoM basis, the seasonally adjusted Redbook index in the US eased 1.00%. In the prior week, the Redbook index had advanced 2.20%.
US consumer credit rose less than expected in April
Consumer credit climbed $13.42 billion in the US, in April, lower than market expectations for a rise of $18.00 billion. In the previous month, consumer credit had recorded a revised rise of $28.38 billion.
US Redbook index recorded a rise in the last week
In the week ended 03 June 2016, on a YoY basis, the Redbook index registered a rise of 0.60% in the US. In the prior week, the Redbook index had climbed 0.90%.
US non-farm business productivity fell as expected in 1Q 2016
In 1Q 2016, the final non-farm business productivity slid 0.60% in the US on a QoQ basis, at par with market expectations. The non-farm business productivity had fallen by a revised 1.70% in the prior quarter. The preliminary figures had indicated a fall of 1.00%.
US unit labor costs in non-farm businesses rose more than expected in 1Q 2016
The final unit labor costs in non-farm businesses advanced 4.50% on a quarterly basis in 1Q 2016, in the US, more than market expectations for a rise of 4.00%. The preliminary figures had recorded an advance of 4.10%. The unit labor costs in non-farm businesses had advanced by a revised 2.70% in the prior quarter.
US economic optimism index fell in June
In the US, the economic optimism index eased to 48.20 in June, meeting market expectations. In the previous month, the economic optimism index had recorded a level of 48.70.
Canadian Ivey PMI fell in May
In May, the seasonally adjusted Ivey PMI recorded a drop to 49.40 in Canada, lower than market expectations of a fall to 51.00. In the prior month, Ivey PMI had recorded a level of 53.10.
Canadian Ivey PMI advanced in May
The non-seasonally adjusted Ivey PMI in Canada climbed to 58.40 in May, compared to a reading of 50.60 in the previous month.
Japanese GDP rose as expected in 1Q 2016
On a quarterly basis, the final GDP climbed 0.50% in Japan, in 1Q 2016, meeting market expectations. In the prior quarter, GDP had recorded a revised drop of 0.40%. The preliminary figures had recorded an advance of 0.40%.
Japanese adjusted (total) current account surplus registered a drop in April
Adjusted (total) current account surplus in Japan dropped to Yen 1625.80 billion in April, following an adjusted (total) current account surplus of ¥1893.60 billion in the prior month. Markets were anticipating the nation to record an adjusted (total) current account surplus of ¥2013.70 billion.
Japanese (BOP basis) trade surplus declined in April
(BOP basis) trade surplus in Japan fell to ¥697.10 billion in April, from a (BOP basis) trade surplus of ¥927.20 billion in the previous month. Market expectation was for the nation’s (BOP basis) trade surplus to fall to ¥919.00 billion.
Japanese nominal GDP rose as expected in 1Q 2016
The final nominal GDP registered a rise of 0.60% on a quarterly basis in Japan, in 1Q 2016, meeting market expectations. In the previous quarter, nominal GDP had fallen 0.20%. The preliminary figures had recorded an advance of 0.50%.
Japanese bank lending ex-trust rose less than expected in May
On a YoY basis in Japan, bank lending ex-trust registered a rise of 2.20% in May, compared to a similar rise in the prior month. Markets were expecting bank lending ex-trust to advance 2.30%.
Japanese GDP deflator advanced as expected in 1Q 2016
On a YoY basis, the final GDP deflator in Japan, climbed 0.90% in 1Q 2016, in line with market expectations. In the prior quarter, the GDP deflator had risen 1.50%. The preliminary figures had also recorded a rise of 0.90%.
Japanese coincident index climbed in April
The flash coincident index registered a rise to 112.20 in Japan, in April, lower than market expectations of an advance to a level of 112.70. The coincident index had registered a level of 111.10 in the previous month.
Japanese bank lending including trusts climbed in May
Bank lending including trusts advanced 2.20% on a YoY basis in Japan, in May. In the previous month, bank lending including trusts had registered a similar rise.
Japanese annualised GDP rose as expected in 1Q 2016
In 1Q 2016, the final annualised GDP registered a rise of 1.90% on a QoQ basis in Japan, compared to a revised fall of 1.70% in the prior quarter. The preliminary figures had recorded an advance of 1.70%. Market anticipation was for annualised GDP to advance 1.90%.
Japanese leading economic index recorded a rise in April
The preliminary leading economic index advanced to 100.50 in Japan, in April, compared to a reading of 99.30 in the prior month. Market anticipation was for the leading economic index to rise to a level of 100.70.
Japanese current account surplus fell in April
Japan has registered the non-seasonally adjusted current account surplus of ¥1878.50 billion in April, following a current account surplus of ¥2980.40 billion in the previous month. Market anticipation was for the nation to post a current account surplus of ¥2303.00 billion.
Chinese imports dropped less than expected in May
On a YoY basis, imports in China recorded a drop of 0.40% in May, less than market expectations for a fall of 6.80%. Imports had registered a drop of 10.90% in the previous month.
Chinese exports declined more than expected in May
In May, exports dropped 4.10% in China on an annual basis, compared to a fall of 1.80% in the prior month. Markets were anticipating exports to ease 4.00%.
Chinese trade surplus widened in May
In May, trade surplus in China rose to $49.98 billion, compared to a trade surplus of $45.56 billion in the previous month. Markets were expecting the nation to record a trade surplus of $55.70 billion.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
